22nd November 2013
Lorne – Market Roundup
An interesting wake up reminder of the Melbourne Auction results last weekend with clearance rates back in the 60’s and buyer numbers noticeably lower than past months. On the back of our building optimism and reported increases in consumer confidence what does all this mean?
A great midweek article by Property Observer made two very good points that are soooo relevant in our current market place. According to their journalist Mal James there appears to be two reasons for the splintering market.
1. The incredible amount of choice out there at the moment means that unless a home is an A-grade or very well priced B-grader, it is no longer an automatic sell. This is creating an easing of demand for property. Why? Right now in late spring this easing of demand per property is due mainly to the sheer volume of what’s on offer.
2. Price – some Vendors are getting ahead of themselves. Nothing wrong with that. Except that in this market they will be punished by no sale, whereas in early spring that was not happening as often.
When the property has the right three “P’s” – price, property and position – how sweet the market is for sellers. That’s the splintering effect.
Lorne – Weekly report
The coastal market has tendered to follow a similar pattern to that of the Melbourne residential market where the month of October was outstanding while November has not continued with the same volumes. I personally believe that the comments highlighted above by the Property Observers Mal James are so relevant also to our coastal market.
The volume of stock that is being listed for the summer months is as strong as any period through the last decade but Vendors need to be razor sharp with their price or in Mal James’ words “They will be punished with no sale”.
We are hopeful that the final week and a bit of November will be good given a couple of prestige properties are in the final stages of negotiation – fingers crossed!
Saturday 23rd November
12:00 – 12:30 148-174 Mountjoy Parade Lorne
2:00 – 2:30 2 Skyline Court Lorne
3:00 – 3:30 4/9 Albert Street Lorne
3:00 – 3:30 4A Tradewinds Avenue Lorne
Sunday 24th November
12:00 – 12:30 50B Smith Street Lorne
Lorne – You must have a look at this
‘OCEAN ACRES’ A unique 11.5 acre land parcel with stunning bush and ocean views, only 3kms from Lorne’s shopping strip/beach precinct. This brand new two storey house is beautifully appointed with a fully self-contained second dwelling.
For all information please call Michael Coutts on 0438 356 624
Lorne – Great Local Slang
Right through the Georgie Moore – “Door”.
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